You’ve seen the news, and you realize there’s a shortage of haulers and delivery drivers across the United States and even across the world? What’s the solution? More freight moving companies – and now is the perfect time to join this exciting industry. Some people may need to look into the help of companies like StartMyLLC for learning how to start an llc.
Not so fast though, before you go all in, buy yourself your first truck and sign up to a hot shot trucking website like Shiply. You’ll need to know a few legalities and tips that will help you make your business a success.
Here are a few of the top tips to know before starting your freight business.
One of the most important tips is that you need a commercial driver’s license.
Key in commercial driver’s license, and you’ll come up with dozens of companies offering training courses.
You should be well-versed enough in the laws and regulations concerning your type of business before you even think about applying for a license.
You’ll need to know all the rules pertaining to your state, the Federal Motor Carrier Safety Administration, and also know that you can’t allow non-commercial drivers in your truck.
No matter how good you are at running a freight company, if you allow non-commercial drivers in your truck, you’ll face charges.
You should know the laws strictly enough that you are not liable if your drivers are caught or have issues with authorities.
Insurance is another important tip to know before starting a freight business. You shouldn’t do business without an insurance policy covering both your personal assets and your freight items.
You’ll need full liability insurance, cargo liability, personal injury coverage, no-fault medical coverage for injured passengers, third-party liability insurance, and comprehensive coverage for physical damage to your truck.
You should have all your paperwork written professionally before you engage in any business. This is because if you’re running a business, you’ll need attorneys.
You’ll need to state clearly in the ‘terms and conditions’ of your contract that you are not liable for any damages to your customers, other drivers, or other people involved in the freight.
If this sounds like a lot of hard work before you take on the big players in delivery services, then think again. It might seem complicated at first, but it’s really not that hard once you get into the swing of things.
Starting a freight business is an exciting endeavor, and if you do your homework right and get the necessary licenses and permits, you’ll be able to add to the success of many companies in this industry.
Selling transportation services is a perfect option for those interested in starting a small business. Just make sure you look into all the regulations and laws pertaining to getting yourself a commercial license.
If this is your first time running a company, then do some research on what makes for a successful transportation company.
Find more business tips in our archives.